Payments News

On The Web

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Companies

APRA gives TransferWise a restricted banking licence

“One of Europe’s largest fintechs, TransferWise, will be able to connect directly into Australia’s real-time payments system and further reduce foreign exchange fees, after the prudential regulator awarded it a restricted banking licence on Monday. The Australian Prudential Regulation Authority said the London-based foreign exchange disrupter had been granted a licence to provide a purchased […]
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Companies

TransferWise to offer investment products but has ‘no plans’ to become a bank

“TransferWise, the London-headquartered international money transfer service recently valued at $3.5 billion , has secured an additional license with U.K. regulators to enable it to offer investment products in the future. This will mean that U.K. customers who have money deposited in a TransferWise multi-currency or so-called “borderless” account will be given the option to […]
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Companies

TransferWise launches multi-country bank account

“TransferWise says that for anyone travelling, living or working abroad the account means they can manage their money between countries more easily than ever before, with no sneaky fees and no exchange rate markups.  Customers can hold and convert funds in over 40 global currencies meaning they can send, spend and save money like a […]
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Companies

TransferWise turns to Wirecard for debit card issuing

“Following the recent launch of a “borderless account” by TransferWise, the UK-based money transfer company recruited Wirecard as its debit card issuer for the new account. The debit card was privately launched earlier this year to around 1,000 TransferWise customers, with a full public roll-out planned for later in 2018.”

On The Wires

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Companies

TransferWise and Visa Announce Global Partnership Following Successful Collaboration on Cloud Technology

“Visa (NYSE: V) and TransferWise today announced a global partnership and the first use of Visa Cloud Connect, a new way for fintechs and partners to securely connect Visa’s global processing network, VisaNet, through the cloud. Visa Cloud Connect underpins a new global agreement between Visa and TransferWise that will enable the expansion of TransferWise’s […]